Approaching ChristmasIt’s a time of gifts and celebrations, but it can also be a time of stress as we try to find the perfect detail that the other person will like. Like this, Many people prefer the simplest solution: Give money and let everyone get what they want.. But the truth is that this can cause problems for the person receiving such an “original” gift.
tax authorities He warned that all the money we give must be declared. In fact, according to the Tax Office itself, There is no minimum amount that must not be declaredtherefore any amount of money needs to be transmitted. And if we fail to do so, the gift may result in displeasure and financial penalties.
money donation This is considered an act of liberality by the Tax Office, where a person offers something for free to the benefit of another person who accepts it. is includes christmas giftsThe tip your grandmother secretly gave you and the 50 euro bonus your aunt gave you, so Any money given on these dates must be declared as a donation.. In the eyes of the law, this is considered a money transfer that requires the payment of Inheritance and Gift Tax.
If you donate this Christmas, It is important that you submit the tax reconciliation to the Treasury within 30 business days. or otherwise the Tax Office may impose some type of financial penalty.
Nevertheless, Giving money as a gift is generally a very common practice and the amount to be declared is usually minimal. and therefore very hard to controlfrom here Treasury usually does not take action in these cases. However, it is important to know that in any case, this is considered a donation and we should take this into consideration in case of suspicious movements.
Then, If you are going to give or receive money as a gift this Christmas, be sure to report it to the authorities. Tax Administration To avoid possible problems and economic sanctions. Even though the amount is small, it is important to comply with the law and avoid problems in the future.